Netflix, Inc.(NASDAQ:NFLX) shares took another hit after
hours on Tuesday after the company posted lower than estimated subscribers
growth,
However, the company reported higher than estimated third
quarter earnings and said that it earmed 11 cents a share on revenue of $889
million, topping analysts target of a profit of 5 cents a share on revenue of $889
million.
Get Complete Analysis
on Earnings of NFLX for Free
Here
At least as important, though, are the video service’s
subscriber numbers. Here investors were looking for 24.3 million domestic
streaming subscribers, 9.1 million DVD subs, and 3.7 million subscribers from
Canada, Latin America and the UK, and Netflix didn’t quite get there: 23.9
million domestic, 9.2 million DVD, and 3.6 million international.
For the current quarter, the company sees revenue of $890
million to $911 million, and EPS in a range of negative 10 cents to a profit of
14 cents. That is below the consensus projections of $910 million and a 12-cent
profit.
Shares of NFLX slumped 13% to $69.46 in after-hours.
No comments:
Post a Comment